Initial £100mn investment comes as UK tries to improve record on building tech companies
The new Oxford technology institute funded by Oracle co-founder Larry Ellison will invest at least £100mn in joint ventures with the university in an effort to improve the UK’s poor record on commercialising scientific discoveries. The initiative aims to back at least 10 projects focused on “particularly challenging global problems”, with the prospect of further investment should they show promise, said Professor Sir John Bell, president of the Ellison Institute of Technology Oxford.
Ellison said the Oxford partnership was at the heart of EIT’s mission to have a global impact by “fundamentally reimagining the way science and technology translate into end-to-end solutions for humanity’s most challenging problems”. The institute is due to open its £1bn-plus Oxford campus fully in 2027, including 30,000 square metres of research laboratories, supercomputing facilities, and an oncology and preventive care clinic.
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